Laureate Education Announces Election of William J. Davis to Board of Directors and Appointment of Andrew B. Cohen as Chair of the Board of Directors, effective September 2024

Rhea-AI Summary

Laureate Education (NASDAQ: LAUR) has elected William J. Davis to its Board of Directors and appointed him to the Audit & Risk Committee. Davis, the CEO of ABC Fitness Solutions, brings over 30 years of operational, financial, and technology experience. Additionally, Andrew B. Cohen, co-founder of Cohen Private Ventures, will become Chair of the Board on September 10, 2024, succeeding Kenneth W. Freeman, who has served since 2019. Freeman will remain on the Board. The appointments aim to drive growth and enhance corporate governance.

Positive

• William J. Davis brings over 30 years of experience in operations, finance, and technology.
• Davis has a strong background in public companies and audit committees, enhancing leadership capabilities.
• Andrew B. Cohen, with significant investment experience, will become Chair of the Board, potentially driving long-term value.
• Kenneth W. Freeman, who led the Board since 2019, will continue contributing as a Board member.

Negative

• No immediate financial or operational impacts were detailed in the announcement.
• The effectiveness of new leadership changes remains to be seen and could present transitional challenges.
• Potential risks associated with leadership changes, including uncertainty and shifts in strategic direction.

MIAMI, May 30, 2024 /PRNewswire/ -- Laureate Education, Inc. (NASDAQ: LAUR) (the "Company") announced the election of William J. Davis as an independent member of the Laureate Education, Inc. Board of Directors at today's 2024 Annual Meeting of Stockholders. Mr. Davis was also appointed to the Board's Audit & Risk Committee.

"We are excited to welcome Bill Davis to Laureate's Board of Directors.  With over 30 years of proven operational, financial and technology experience, Bill will be a valuable addition to Laureate.  We look forward to Bill's perspectives and strategic insights as we continue driving growth and creating long-term value," said Eilif Serck-Hanssen, President and Chief Executive Officer.

"Bill will bring to our Board further public company and audit committee experience and financial expertise.  His experience in these areas will provide invaluable insight and add strong leadership capabilities and skills to our Board," said Kenneth Freeman, Chair of the Board.

Mr. Davis is the President and Chief Executive Officer of ABC Fitness Solutions, LLC, a provider of technology and related services for the fitness industry, which he joined in 2019. Before then, Mr. Davis was the Chief Financial Officer of Paycor, Inc., Blackboard, Inc., and Veradigm, Inc. (formerly Allscripts Healthcare Solutions).  Mr. Davis began his career as member of the Technology Group of PricewaterhouseCoopers LLP.  Mr. Davis is a certified public accountant and earned a Bachelor's degree in Accounting from the University of Cincinnati and an M.B.A. from Northwestern University.

In addition, the Company announced the appointment of Andrew B. Cohen as Chair of its Board of Directors, effective September 10, 2024.  Mr. Cohen will succeed Kenneth W. Freeman, President Ad Interim of Boston University, who served as Chair since 2019 and will remain on the Board.  Mr. Cohen, who has served on Laureate's Board since 2013 and as Vice Chair of the Board since May 2023, is the Chief Investment Officer and Co-Founder of Cohen Private Ventures, LLC. 

"I am pleased to have the opportunity to further support the Board and the Company's corporate governance as Chair, beginning in September.  The Company and its Board have benefitted greatly from Ken's outstanding leadership as Chair of the Board over the years.  We sincerely thank Ken for his dedicated service as Chair and for his continuing service on the Board," said Andrew B. Cohen.

"I am honored to have served as Chairman of the Board these past years," said Kenneth Freeman.  "I am pleased to welcome Andy as the new Chair in September and look forward to supporting him in this new chapter and the Company's continued achievements under his stewardship."

About Laureate Education, Inc.

Laureate Education, Inc. operates five higher education institutions across Mexico and Peru, enrolling approximately 450,000 students in high-quality undergraduate, graduate, and specialized degree programs through campus-based and online learning. Our universities have a deep commitment to academic quality and innovation, strive for market-leading employability outcomes, and work to make higher education more accessible. At Laureate, we know that when our students succeed, countries prosper, and societies benefit. Learn more at laureate.net.

Investor Relations Contact:
ir@laureate.net

Media Contact:
Adam Smith
Laureate Education, Inc.             
adam.smith@laureate.net
U.S.:  +1 (443) 255 0724

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SOURCE Laureate Education, Inc.

FAQ

Who was elected to Laureate Education's Board of Directors?

William J. Davis was elected to Laureate Education's Board of Directors.

When will William J. Davis join Laureate Education's Board?

William J. Davis was elected at the 2024 Annual Meeting of Stockholders.

What role will William J. Davis serve on Laureate Education's Board?

William J. Davis will also serve on the Audit & Risk Committee of Laureate Education.

Who is the new Chair of Laureate Education's Board of Directors?

Andrew B. Cohen will become the new Chair of the Board effective September 10, 2024.

What is the stock symbol for Laureate Education?

The stock symbol for Laureate Education is LAUR.